Competition Law in the Digital Age - Newsletter March 2026
5 March 2026
Allianz Global Investors (“AllianzGI”) has acquired an indirect stake in the German electricity grid operator Amprion from Talanx Insurance Group (“Talanx”).
AllianzGI is investing in Amprion on behalf of Allianz insurance companies and the Allianz European Infrastructure Fund II by acquiring from Talanx a direct stake in M31 Beteiligungsgesellschaft, which holds a 74.9 percent direct stake in Amprion.
As part of this partnership, Allianz and Talanx plan to invest significant capital in the expansion of Germany’s second-largest electricity grid over the coming years, in order to secure the energy supply for millions of people and drive forward the energy transition.
AllianzGI is a leading active asset manager with more than 700 investment professionals in 21 offices worldwide, managing EUR 591 billion in assets. Talanx is one of Europe’s leading insurance groups with insurance premiums of EUR 49.0 billion (2025).
The transaction is expected to be completed in the second quarter of 2026, subject to customary closing conditions.
Hengeler Mueller advised Allianz Global Investors comprehensively on the acquisition.
Hengeler Mueller team for Allianz Global Investors
Corporate/M&A: Annika Clauss, Sebastian Schneider (both partner, both lead), Ioanna Tsotsa (senior associate), Lukas Buchwaldt (all Frankfurt), Tobias Ponßen (Berlin, both associate),
Energy/Public Law: Jörg Meinzenbach (partner), Paul David Rieger (senior associate), Luca Bellotti (associate, all Düsseldorf),
Tax: Sebastian Adam (partner, Frankfurt), Miriam Friedrichs (associate, Munich),
Employment: Hendrik Bockenheimer (partner), Musa Müjdeci (senior associate, both Frankfurt),
Antitrust: Jörg Meinzenbach (partner), Mats Kremer (associate, both Düsseldorf).
